How To Transfer Your Assets To A Corporation
How To Transfer Your Assets To A Corporation
Chas Rampenthal (Attorney-at-Law) gives expert video advice on: How can I transfer my assets to my corporation?
How can I transfer my assets to my corporation?
Similar to any business entity, if you want to transfer assets, that's just another way to contribute capital to a company. Transferring an asset, whether it's personal property like a computer or a desk, or real property like a building or land, is done and it's papered over and it's agreed to by the board of directors on what it's fair-market value is. So you set a fair market value for the property, and then in return for that, you need to get something back. It needs to be one of two things typically -- either a promissory note that you're going to be repaid, or some stock in the company or additional ownership in the company that would be valued at a rate. So, if you had shares that were worth a dollar a share and you put it in a company that was worth $100,000, you would want to get a hundred thousand shares of stock for that.